Full Press Release Details
MANA CAPITAL ACQUISITION CORP.
| Actual as of November 26, 2021 | Pro Forma Adjustments | As Adjusted | ||||||||||
| (Unaudited) | (Unaudited) | |||||||||||
| ASSETS | ||||||||||||
| Current Assets | ||||||||||||
| Cash | $ | 887,872 | $ | (60,000 | ) | $ | 827,872 | |||||
| Prepaid Expenses - short term | 199,725 | - | 199,725 | |||||||||
| Total Current Assets | 1,087,597 | (60,000 | ) | 1,027,597 | ||||||||
| Prepaid Expenses - long term | 89,755 | - | 89,755 | |||||||||
| Cash Held in Trust | 62,000,000 | 3,000,000 | 65,000,000 | |||||||||
| Total Assets | $ | 63,177,352 | $ | 2,940,000 | $ | 66,117,352 | ||||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||||||
| Current Liabilities | ||||||||||||
| Accrued offering costs | $ | 20,600 | $ | - | $ | 20,600 | ||||||
| Accrued expenses | 280,649 | - | 280,649 | |||||||||
| Total Current Liabilities | 301,249 | - | 301,249 | |||||||||
| Commitments and contingencies | ||||||||||||
| Common stock subject to possible redemption; 6,200,000 shares at redemption value ($10.00 per share) | 62,000,000 | 3,000,000 | 65,000,000 | |||||||||
| Stockholders' Equity | ||||||||||||
| Preferred stock, $0.00001 par value; 100,000,000 shares authorized; none issued and outstanding | - | - | - | |||||||||
| Common stock, $0.00001 par value; 300,000,000 shares authorized; 1,550,000 and 1,625,000 issued and outstanding as of November 26, 2021 (excludes 6,200,000 and 6,500,000 shares subject to possible redemption) | 16 | - | 16 | |||||||||
| Additional paid-in capital | 887,552 | (60,000 | ) | 827,552 | ||||||||
| Accumulated deficit | (11,465 | ) | - | (11,465 | ) | |||||||
| Total Stockholders' Equity | 876,103 | (60,000 | ) | 816,103 | ||||||||
| Total Liabilities and Stockholders' Equity | $ | 63,177,352 | $ | 2,940,000 | $ | 66,117,352 |
Mana Capital Acquisition
Note to Pro Forma Financial
NOTE 1 - CLOSING OF OVERALLOTMENT OPTION
The accompanying unaudited
Pro Forma Financial Statement presents the Balance Sheet of Mana Capital Acquisition Corp. (the "Company") as of November 26,
2021, adjusted for the closing of the underwriters' overallotment option and related transactions which occurred on November 30,
2021 as described below.
the Initial Public Offering, the underwriters were granted a 45-day option from the date of the prospectus (the "Over-Allotment
Option") to purchase up to 930,000 additional units to cover over-allotments (the "Option Units"), if any. On November
30, 2021, the underwriters purchased an additional 300,000 Option Units pursuant to the partial exercise of the Over-Allotment Option.
The Option Units were sold at an offering price of $10.00 per Unit, generating additional gross proceeds to the Company of $3,000,000.
Pursuant to the Second Amended and Restated Subscription Agreement between the Sponsor and the Company, the Company issued the Sponsor
a total of 75,000 shares of Common Stock in connection with the partial exercise by the underwriters of the Over-Allotment Option.
Pro forma adjustments
to reflect the exercise of the underwriters' overallotment option are as follows:
| Pro forma entry | ||||||||||
| Cash held in Trust | 3,000,000 | |||||||||
| Common stock subject to possible redemption | 3,000,000 | |||||||||
| To record sale of 300,000 overallotment Units at $10.00 per Unit. | ||||||||||
| Additional paid-in capital | 60,000 | |||||||||
| Cash | 60,000 | |||||||||
| To record payment of cash underwriting fee on overallotment options. |